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HomeMy WebLinkAbout1995-OR-53ORDINANCE NO. 95-0R-~~ AN ORDINANCE OF THE CITY OF JEFFERSONVILLE, INDIANA, AMENDING ORDINANCE NO. 91-OR-52 IN CONNECTION WITH THE $8,000,000 PRINCIPAL AMOUNT OF "CITY OF JEFFERSONVILLE, INDIANA, VARIABLE RATE DEMAND ECONOMIC DEVELOPMENT REVENUE BONDS (APOLLO AMERICA CORPORATION PROJECT), SERIES 1991"; APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF A FIRST AMENDMENT TO LOAN AGREEMENT BETWEEN THE CITY OF JEFFERSONVILLE, INDIANA (THE "ISSUER") AND APOLLO AMERICA CORPORATION (THE "COMPANY"); AN AMENDED AND RESTATED TRUST INDENTURE AMONG THE ISSUER, TOKAI TRUST COMPANY OF NEW YORK AND PNC BANK, INDIANA, INC. AND ANY AND ALL OTHER RELATED DOCUMENTS. WHEREAS, the City of Jeffersonville, Indiana (the "Issuer"), a political subdivision of the State of Indiana (the "State"), pursuant to the provisions of Indiana Code ("IC") 36-7-12 (the "Act"), is specifically authorized and empowered to issue its economic development revenue bonds and utilize the proceeds from the sale thereof for the acquisition, installation and construction of economic development facilities," as defined in IC 36-7-11.9, and is vested with powers necessary to enable it to accomplish such purposes; and WHEREAS, the Issuer issued its $8,000,000 City of jeffersonville, Indiana, Variable Rate Demand Economic Development Revenue Bonds (Apollo America Corporation Project), Series 1991 (the "Bonds") on October 9, 1991, and loaned the proceeds thereof to Apollo America Corporation (the "Company"), a Delaware ~ ~ corporation in good standing and authorized to do business in [he State, pursuant to the Act, to assist the Company in its acquisition, installation and construction of an economic development facility, comprised of an approximately 50,000 square foot manufacturing facility, including equipment, for processing, blending,i distribution and sale of petroleum products, petroleum based pr6ducts and petrochemicals located on an approximately 30- acre tract of land at the Northwest corner of Utica Pike and Port Road in the Clark Maritime Centre within the boundariDs~ of the Issuer (the "Project"); and WHEREAS, in connection with the issuance of the Bonds, the Company obtained Irrevocable, Transferable, Direct Pay Letter of Credit (the "Letter of Credit") from The Tokai Bank, Limited, Chicago Branch (the "LOC Bank") to secure the repayment of the~ principal and purchase price of, and interest on the Bonds to the holders thereof, and 51128:Lou3 0o~ oO --~ ~ ~ 0 0 d) 0..,::::1 ~'"d ~C:: ~ I-'h'-<: b-~ (1)(1) ~0~ 00~* I-~ t-h ~ (1) t'~) H D :~- ¢~0 0 0 0 ct' ct' (1) cl- {1) I-,- (I) - H-t1) (I) I-h:~ (1) ¢~ I-.-' p~ (n ri- cl- f.n 0 GO I~. 0 0 0 H-OE: 0 0 :2¢~ ¢ 0 ¢-0 0 0~0 M 0 0 ~ 0 0 0 - 0© ~0 0 © · O' 0 '-h 0 ~D 0 0 ~' 0 ~r <~ m 0 0 0 ~ ~ H ~ 0 0 H 0 O H H I-1 :::r ~- P- fl:) M ~- ¢1- n'- H- ¢:~ 0 © 0 :¢:;~M ~GM O~ ~ ~ O~ ~ ~0 M~ OM 0 ~-0 0 Mq~ ~-~h r-r~t H-lb hhCbM 0 D F-~ nd M crud O ~:~¢b¢-0 M t-hQ I--'~ :2 f'b r'l- u] 0 F-'I-' I---' 0 (1) I; 0 H H 0 H 0 H 0 0 O~t~ ~ C~ 0 M c~H-~ h-O · C C fi) n~ ~n c~- ~ CO0 ~ 0~0 0 ~ 0 0~- ~l 0 :~0 % 0 0 0 M O~ ~:~ (1) D ::::r :]' - 0 ¢ H-O ~ ~ (I) ¢ ¢-r ~0 r~ © <: 0 0 ~0 0 0 ~0 d) 0 0 ~d 0 ~ · I FI-- 0 ~ 0 ~0 ~ 0 .~ 0 0~0 cro~ ~-C~C 0 ~: ct- ~) Ou~<: 0 (1) M D ~OON DH- 0 ~0 ~0 00~- ~ ~0~ 0 0~ ~ M H 0 M ~ M 0 ~-~ (b (~ ~-~f~ - I::: ~ I-,-~ I.-'"U ::7'0 ~ ~00~ O~ ~-~ ~ ~' 0 ~0 ~-~' ~ ~0 0~- 0 ~-~ ~- ~ w- 0 Et ¢-:2 hh t.-" O 2 E: "'O ~ O., I--, ¢1- ¢ ~ ~.-' ti) 0 ¢ ~- ~ 0 Q ~ 2'.-Q 0 ~ Phr~ O H-O 0 ~- 0--'P- d) ~ ~ ::2 ~ ~-:3' 0 0 ~ ~-~ 0 ~ 0 I-,-O ~a.~. 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